Do I need a Will ?
Most younger people assume that Wills are only for older people or wealthy people who have accrued significant assets and property. That’s simply not the case – even if you do not own your own home or have a significant investment portfolio, there are a number of reasons why you should still have a will.
Who should have a Will ?
Adults with Assets: If you own property, have savings or other valuable possessions, a Will ensures that your assets are distributed according to your wishes, rather than defaulting to potentially unintended beneficiaries.
Parents: If you have minor children, a Will allows you to appoint a guardian who will care for them in the event of your death. Without a Will, the court will decide who becomes their guardian, which may not align with your wishes.
Business Owners: If you own a business, a Will can help you plan for the succession of your business and ensure it is transferred smoothly to your chosen beneficiaries.
Anyone with Specific Bequests: If you want certain assets to go to specific people, such as family heirlooms or charitable donations, a Will is essential.
Anyone with Specific Funeral Arrangements: if you have specific funeral arrangements in mind, for example burial or crematory requests or an idea of how you want your life to be celebrated, a Will can provide those directions to your loved ones.
Why you need a Will
Without a will, you die intestate, and your estate will be distributed according to the Succession Act 2006 (in NSW). This may result in unintended beneficiaries and can cause unnecessary stress and legal complications for your loved ones.
A will provides clarity, reduces the likelihood of disputes, and ensures your wishes are legally enforceable.
Don't put it off, take action now.
For those who need a will, we provide comprehensive estate planning services for clients in the Sutherland Shire and greater Sydney area, including:
Wills, from simple to complex
Testamentary Trusts in Wills
Protective Trusts and Special Disability Trusts
Blended family solutions
Enduring Powers of Attorney
Appointments of Enduring Guardian
Advising on the risk of estate claims and crafting appropriate strategies
Tax effective strategies
Estate planning for superannuation
Reviewing family trusts to pass control on death
Documents for incapacity (such as Enduring Powers of Attorney, Health Directives, etc.)
Safe custody document storage
Call or email us today to discuss your estate planning.